Swiss National Bank Trims Stake in Fastenal (NASDAQ:FAST)

Swiss National Bank trimmed its holdings in shares of Fastenal (NASDAQ:FAST) by 2.8% in the fourth quarter, Holdings Channel reports. The firm owned 1,786,600 shares of the company’s stock after selling 50,900 shares during the period. Swiss National Bank’s holdings in Fastenal were worth $115,718,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hartford Financial Management Inc. raised its position in Fastenal by 46.9% in the fourth quarter. Hartford Financial Management Inc. now owns 479 shares of the company’s stock valued at $31,000 after purchasing an additional 153 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Fastenal during the fourth quarter worth about $35,000. Criterion Capital Advisors LLC acquired a new stake in shares of Fastenal during the fourth quarter worth about $43,000. Pacific Center for Financial Services acquired a new position in shares of Fastenal in the third quarter worth $66,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in Fastenal by 77.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,084 shares of the company’s stock valued at $70,000 after purchasing an additional 474 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Fastenal Stock Up 0.5 %

Shares of NASDAQ:FAST opened at $68.43 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.83 and a quick ratio of 2.49. The stock has a market cap of $39.18 billion, a P/E ratio of 33.88, a P/E/G ratio of 3.56 and a beta of 1.07. Fastenal has a 1-year low of $52.85 and a 1-year high of $79.04. The firm has a fifty day moving average price of $73.21 and a 200 day moving average price of $67.01.

Fastenal (NASDAQ:FAST) last issued its quarterly earnings results on Thursday, April 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the firm earned $0.52 EPS. The business’s revenue was up 1.9% on a year-over-year basis. Sell-side analysts predict that Fastenal will post 2.12 EPS for the current year.

Fastenal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, April 25th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Wednesday, April 24th. Fastenal’s dividend payout ratio is presently 77.23%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FAST. Stifel Nicolaus lifted their price target on shares of Fastenal from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. HSBC increased their target price on Fastenal from $59.00 to $64.00 and gave the company a “hold” rating in a report on Monday, April 15th. Loop Capital lowered their price objective on Fastenal from $71.00 to $66.00 and set a “hold” rating for the company in a research report on Monday, April 15th. Finally, Robert W. Baird cut their target price on Fastenal from $77.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Fastenal currently has an average rating of “Hold” and an average target price of $67.67.

Insider Activity at Fastenal

In related news, VP Charles S. Miller sold 11,076 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.16, for a total transaction of $832,472.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Charles S. Miller sold 11,076 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.16, for a total transaction of $832,472.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeffery Michael Watts sold 19,420 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $70.25, for a total value of $1,364,255.00. Following the completion of the sale, the insider now directly owns 5,940 shares of the company’s stock, valued at approximately $417,285. The disclosure for this sale can be found here. Insiders have sold a total of 36,082 shares of company stock worth $2,584,060 in the last three months. Insiders own 0.41% of the company’s stock.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.